We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • How can you use PPI in #forex trading? Find out: https://t.co/TZEdU2SdaS #tradingstyle https://t.co/56Yeqg55OO
  • European Opening Calls from IG #FTSE 7321 +0.18% #DAX 13227 +0.15% #CAC 5939 +0.15% #AEX 599 +0.13% #MIB 23508 +0.19% #IBEX 9270 +0.13% #STOXX 3710 +0.14%
  • NZD/USD Technical Analysis: Trend Aims Lower Amid Congestion - https://www.dailyfx.com/forex/technical/home/analysis/nzd-usd/2019/11/19/NZDUSD-Technical-Analysis-Trend-Aims-Lower-Amid-Congestion.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #NZDUSD #technicalanalysis
  • - #Gold prices may rise if the ECB and FOMC meeting minutes incite rate-cut expectations - #SwedishKrona, #NorwegianKrone may also rise if dovish bets boost appeal of riskier FX - NOK, SEK may retreat on OECD publication, trade war risks, Sweden report https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/19/Gold-Prices-SEK-NOK-May-Rise-on-ECB-FOMC-Minutes.html
  • As promised, here is a link to my previous webinar where I outlined how leveraged debt could exacerbate a downturn - https://t.co/gfjnm1bPBo
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.65%, while traders in France 40 are at opposite extremes with 84.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jG45w8zAEK
  • Now consider the long-term trajectory of inflation and bond yields in this context, and where we are today starts making a lot more sense... https://t.co/smTjd1lF6n
  • My trading video for today: 'Dollar Extend Slide on Trump-Powell Meeting, Risk Unperturbed by Currency, Trade War Risks' https://www.dailyfx.com/forex/video/daily_news_report/2019/11/19/Dollar-Extend-Slide-on-Trump-Powell-Meeting-Risk-Unperturbed-by-Currency-Trade-War-Risks.html?CHID=9&QPID=917719
  • Canadian Dollar Forecast in AUD/CAD, NZD/CAD, GBP/CAD Rates #CAD $AUDCAD $NZDCAD $GBPCAD - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/19/Canadian-Dollar-Forecast-in-AUDCAD-NZDCAD-GBPCAD-Rates.html?CHID=9&QPID=917702 https://t.co/M0QbJLCrLZ
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.06% 🇪🇺EUR: 0.02% 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.05% 🇳🇿NZD: -0.11% 🇦🇺AUD: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/aluzscA5px
AUD/USD Technical Analysis – Treading Water Below 0.94

AUD/USD Technical Analysis – Treading Water Below 0.94

2014-05-13 21:34:00
Ilya Spivak, Sr. Currency Strategist
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support: 0.9318-23 (14.6% Fib exp., channel bottom), 0.9229
  • Resistance: 0.9390 (23.6% Fib exp.), 0.9460-0.9507 (Apr 10 high, 38.2% Fib exp.)

The Australian Dollar is struggling to launch the next leg of an advance started in late January after bouncing from rising channel support. A break above the 23.6% Fibonacci expansion on a daily closing basis targets the 0.9460-0.9507 area, marked by the April 10 high and the 38.2% level. Alternatively, a turn below the 0.9318-23, the intersection of the channel floor and the 14.6% Fib, exposes a horizontal support shelf at 0.9229.

Risk/reward considerations argue against entering a trade with prices wedged tightly between near-term up- and down-side technical barriers. We will continue to stand aside for now, waiting for a more attractive setup to emerge.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

AUD/USD Technical Analysis – Treading Water Below 0.94

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.